United Kingdom Unemployment October 2016

United Kingdom: Unemployment rate unchanged in October

December 14, 2016

Jobless claims in the United Kingdom increased by 2,300 from the previous month in November, according to the Office for National Statistics (ONS). The print came in below the revised increase of 13,300 in jobless claims recorded in October (previously reported: 9,900 increase) and undershot the 5,500 increase in jobless claims the markets had expected.

The unemployment rate—derived from a different survey—was 4.8% in October (the latest period for which data is available), identical to September’s 4.8% figure and matching market expectations.

FocusEconomics Consensus Forecast panelists expect unemployment to average 5.3% in 2017, which is down 0.1 percentage points from last month’s forecast. For 2018, the panel expects the unemployment rate to increase to 5.6%, which is unchanged from last month’s estimate.

Author:Oliver Reynolds, Economist

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